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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    490 62nd St Marion, IA 52302-4700

    • Office Properties & Spaces
    • 23,914 SF
    • 3.93 lot acres
    OFF-MARKET
    Value Estimations
    $2,810,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0315264
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 490 62nd St

    Year built
    2009
    Lot size
    3.93 lot acres
    Property size
    23,914 SF
    Property type
    Office Properties & Spaces
    APN
    15-04-1-51-008-0-0000
    APU
    150415100800000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,530,000
      6.5%
      $3,255,000
      7%
      $3,025,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,208,000
      Market price range: $798k - $2.21M
      AI Estimate
      $2,967,000
      Market price range: $887k - $3.03M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $2,705,000
      AUTO REPAIR, GARAGE
      $2,550,000
      NEIGHBORHOOD: SHOPPING CENTER
      $2,455,000
      MEDICAL BUILDING
      $2,390,000
      RETAIL STORES
      $1,925,000
      OFFICE BUILDING
      $1,895,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Linn
    State
    Iowa
    Longitude
    -91.5467
    Latitude
    42.0296
    CBSA code
    16300
    CBSA name
    CEDAR RAPIDS, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $0.00
    $385,500
    $2,635,400
    $3,020,900
    -
    $385,500
    $2,635,400
    $3,020,900

    Comparable in this City

    • Value Estimation
      $3,895,000
      61,641 SF

      3201 Armar Dr

      OFFICE (GENERAL) • 61,641 SF
      3201 Armar Dr, Marion, IA 52302-4748
      View Details
    • Value Estimation by Request
      6,540 SF

      650 51st St

      OFFICE (GENERAL) • 6,540 SF
      650 51st St, Marion, IA 52302-3805
      View Details
    • Value Estimation
      $715,000
      6,035 SF

      1100 Blairs Fry Rd

      OFFICE (GENERAL) • 6,035 SF
      1100 Blairs Fry Rd, Marion, IA 52302-3092
      View Details
    • Value Estimation
      $1,955,000
      28,101 SF

      107 35th St

      OFFICE (GENERAL) • 28,101 SF
      107 35th St, Marion, IA 52302-3811
      View Details
    • Value Estimation by Request
      4,563 SF

      1260 35th St

      OFFICE (GENERAL) • 4,563 SF
      1260 35th St, Marion, IA 52302-1712
      View Details
    • Value Estimation by Request
      5,000 SF

      3525 3rd Ave

      OFFICE (GENERAL) • 5,000 SF
      3525 3rd Ave, Marion, IA 52302-3807
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,875 SF

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    • Contact for pricing
      5,210 SF

      Uptown Marion Office Suite

      Two-room office suite in the heart of Uptown Marion.
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      5,210 SF

      Uptown Marion Office Suite

      Two-room office suite in the heart of Uptown Marion.
      642 10Th St, Marion, IA 52302
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    • $634,950
      4,800 SF

      Marion Office Investment Opportunity

      All-brick office building with long-term tenants and solar energy integration.
      888 10Th St, Marion, IA 52302
      View Details
    • Contact for pricing
      11,964 SF

      Marion Retail/Office Space Available

      Retail or office space available on 7th Avenue in Marion.
      2931 7Th Ave, Marion, IA 52302
      View Details
    • $1,995,000
      15,000 SF

      Marion Warehouse/Showroom Opportunity

      Stand-alone building with office and warehouse space in growing area.
      6200 N Gateway Dr, Marion, IA 52302
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      40,079 SF

      Collins Road Retail Center

      Prime Cedar Rapids Retail Space Available
      1440 Twixt Town Rd, Marion, IA 52302
      View Details
    • Contact for pricing
      2,875 SF

      Marion Mixed-Use Build-to-Suit

      Downtown Marion retail & office space.
      958 7Th Ave, Marion, IA 52302
      View Details
    • Contact for pricing
      2,875 SF

      Mixed-Use Development Opportunity in Marion

      Mixed-use development opportunity in the heart of Downtown Marion.
      958-960 7Th Ave, Marion, IA 52302
      View Details
    • Contact for pricing
      16,036 SF

      Marion Executive Office Space

      Prime Marion location, multiple suites available
      1055 Linden Dr, Marion, IA 52302
      View Details
    • $12 SF/Yr
      19,533 SF

      Grand Avenue Office Space

      Marion, IA Office Suites Available
      1155 Grand Ave, Marion, IA 52302
      View Details
    • $12 SF/Yr
      64,024 SF

      Cemar Centre Office Space

      Prime Marion, IA Office Building
      3301 Armar Dr, Marion, IA 52302
      View Details
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    490 62nd St
    Marion, IA 52302-4700
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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